LTC Likely just hit bottom

Friends, lets take a look back to 2016, before the infamous 2017 bull run began. We can see a lot of similarities when we zoom out and look at a 2 week chart to what we are currently experiencing.

Pay attention to the Stoch RSI, we saw a test of a similar ascending triangle before a pullback and consolidation for about 9 months!

I am not saying we will have to wait 9 months, but it does appear to be a similar pullback and rejection. We do currently have a long-term ascending triangle support we are "sitting" on. I will be keen on watching this support as well as the green support which spans back from 2015. If these are broken, I will personally not be bullish on LTCs future.

A potential target around $4000 can be found from the ascending triangle width which started in late 2017 after the market topped and bottomed out in late 2018.

Good luck to all, I will be updating this as things go along with your support.

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From a short term perspective, here are the supports I am watching. We can definitely see $67 or $69 come. Does that mean it will definitely happen, no but it is on the table and would not effect the long-term view of Litecoin as long as it holds. My advice in times like these are to get out and enjoy your life. You can worry and check on your crypto as much as you would like but where we may see consolidation for approximately 9 months and be within this range, that is exhausting!

This is not investment or trading advice. Do your own due diligence and trade responsibly.

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watching a potential incoming drop to $70

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LTC Showing strength but we are now testing resistance. Breakout of a bottoming ascending triangle with the possibility to consolidate in a larger ascending triangle if we do not break through the red resistance line here.

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In the short term, we are in a descending triangle consolidating after that last leg up.

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looking for a break of $85.33 to avoid further consolidation at these levels.

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Friends, thank you for the support on this idea. Unfortunately, we are having a tough time getting above the 200 MA on an 8hr right now. Volatility should be coming in the next day or so as the 200 MA moves closer to the 50 MA. A potential bearish cross is incoming unless LTC can gain some legs and move up. $68-$70 is still on the table in the short term if we can't gain traction. Longer term, this idea is still very much in tact. I am personally expecting some chop for the next 1-2 months before the real bullish moves begin.